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SEPTEMBER 22, 2005 -- The Australian Olympic Committee and Adidas announced a sponsorship agreement until '16. Under the terms of the agreement, which comes into effect immediately, Adidas will outfit the Australian Olympic Team at the next Summer Olympics in Beijing as well as the Olympic Games in '12 and '16. Adidas, which last outfitted the Australian Olympic Team at the '96 Atlanta Games, will provide competition uniforms and casual clothing for the athletes, coaches and officials. The deal was said to be worth A$21 million. Australian athletes had worn Nike at the Sydney and Athens Olympics. The issue of whether Australian swimmers would wear Adidas suits or continue to use Speedo has yet to be resolved.


Burton Snowboards has opened the Burton Store in NYC's SoHo district. Customers can enter a refrigerated room to test the warmth of the garments in the store. It's located at 106 Spring St.


Cabela's bought about 28 acres in Glendale, AZ, for $6.1 million. The store is slated to open by late '06 or early '07.


An outdoor exhibitor at ispo Russia confirmed the press release that came from show management. It was a first-rate show for his company. He added that President Vladimir Putin said that he wants to bring Russian sports back to the level of a decade of more before. Putin was also as concerned about the fitness of Russia's youth.


Shares of UK sports apparel retailer JD Group have been rising on renewed talk that majority shareholder Pentland Group may launch a bid for remaining shares.


B Riley & Co downgraded K-Swiss to neutral. The 12-month target price is set at $32. The company's brand equity, global business and balance sheet continue to be robust, Riley said. But there is limited near-term upside to K-Swiss' domestic business, given the rising challenges in the retail sector. According to Riley, the company is better prepared to face these challenges going ahead than some of its peers.



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Categories
Olympic Games
Apparel manufacturing
Apparel
Sporting goods industry

Companies
Adidas AG
Australian Olympic Team
Burton Snowboards
Nike Inc.
K Swiss Inc.

Concepts
retail sector
press release
sponsorship agreement
balance sheet
show management

People
Vladimir Putin





 Breaking Headlines
ALSO IN THIS ISSUE:
DECEMBER 01, 2005

Pacific Sunwear's November Sales Rose 12%
DECEMBER 01, 2005

Finish Line Had 16% Revenue Gain In 3Q; Comps Up 4%
DECEMBER 01, 2005

TSA Fined $10,000 In New York
DECEMBER 01, 2005

ALSO IN THIS ISSUE:
NOVEMBER 30, 2005

Ashworth Hires Investment Bank
NOVEMBER 30, 2005

Shotgun Sports Attracting More Teenage Girls
NOVEMBER 29, 2005

ALSO IN THIS ISSUE:
NOVEMBER 29, 2005

Timberland Expands Anti-Counterfeiting Measures
NOVEMBER 29, 2005

Vital Apparel Group Buys InSport International
NOVEMBER 29, 2005


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